Securities (Tables)

12 Months Ended

Dec. 31, 2014

Available-for-sale Securities [Abstract]

Available-for-sale Securities

The amortized cost, unrealized gains, unrealized losses and estimated fair values of securities at December 31, 2014 and 2013, are summarized as follows:

	December 31, 2014
	Amortized		Unrealized				Estimated
Dollars in thousands	Cost		Gains		Losses		Fair Value
Available for Sale
Taxable debt securities
U.S. Government and agencies and corporations	$	22,153	$	1,073	$	52	$	23,174
Residential mortgage-backed securities:
Government-sponsored agencies	147,951		2,599		773		149,777
Nongovernment-sponsored entities	12,051		142		48		12,145
State and political subdivisions
General obligations	1,975		2		33		1,944
Water and sewer revenues	1,976		14		7		1,983
Other revenues	4,696		73		2		4,767
Corporate debt securities	3,776		—		—		3,776
Total taxable debt securities	194,578		3,903		915		197,566
Tax-exempt debt securities
State and political subdivisions
General obligations	49,515		2,338		12		51,841
Water and sewer revenues	11,258		244		3		11,499
Lease revenues	4,617		75		10		4,682
Lottery/casino revenues	3,811		206		9		4,008
Other revenues	12,845		404		18		13,231
Total tax-exempt debt securities	82,046		3,267		52		85,261
Equity securities	7		—		—		7
Total available for sale securities	$	276,631	$	7,170	$	967	$	282,834

	December 31, 2013
	Amortized		Unrealized				Estimated
Dollars in thousands	Cost		Gains		Losses		Fair Value
Available for Sale
Taxable debt securities
U.S. Government and agencies and corporations	$	29,100	$	675	$	118	$	29,657
Residential mortgage-backed securities:
Government-sponsored agencies	155,270		2,019		1,573		155,716
Nongovernment-sponsored entities	11,519		321		21		11,819
State and political subdivisions
General obligations	9,317		—		475		8,842
Water and sewer revenues	3,229		—		114		3,115
Other revenues	4,051		4		142		3,913
Corporate debt securities	3,973		24		31		3,966
Total taxable debt securities	216,459		3,043		2,474		217,028
Tax-exempt debt securities
State and political subdivisions
General obligations	41,156		675		1,154		40,677
Water and sewer revenues	8,996		15		306		8,705
Lease revenues	7,956		—		391		7,565
Lottery/casino revenues	4,443		63		169		4,337
Other revenues	10,527		55		191		10,391
Total tax-exempt debt securities	73,078		808		2,211		71,675
Equity securities	77		—		—		77
Total available for sale securities	$	289,614	$	3,851	$	4,685	$	288,780

Summary Of Volume of State and Political Subdivision Securities Held in Portfolio

We own no such securities of any single issuer which we deem to be a concentration.

	December 31, 2014
	Amortized		Unrealized				Estimated
Dollars in thousands	Cost		Gains		Losses		Fair Value
California	$	15,060	$	597	$	—	$	15,657
West Virginia	14,181		355		9		14,527
Illinois	11,275		360		19		11,616
Ohio	6,772		69		42		6,799
Texas	5,699		410		3		6,106

Schedule of Realized Gain (Loss)

The proceeds from sales, calls and maturities of available for sale securities, including principal payments received on mortgage-backed obligations, and the related gross gains and losses realized are as follows:

Dollars in thousands	Proceeds from						Gross realized
			Calls and		Principal
Years ended December 31,	Sales		Maturities		Payments		Gains		Losses
2014	$	80,914	$	4,051	$	34,390	$	1,037	$	824
2013	$	54,340	$	2,669	$	62,179	$	674	$	434
2012	$	72,056	$	4,618	$	66,377	$	3,253	$	905

Investments Classified by Contractual Maturity Date

The maturities, amortized cost and estimated fair values of securities at December 31, 2014, are summarized as follows:

Dollars in thousands	Amortized Cost		Estimated Fair Value
Due in one year or less	$	60,935	$	61,689
Due from one to five years	95,082		96,260
Due from five to ten years	28,282		29,081
Due after ten years	92,325		95,797
Equity securities	7		7
Total	$	276,631	$	282,834

Summary of Other-Than-Temporary Impairment Losses on Securities

During 2014 and 2013 we recorded other-than-temporary impairment losses on residential mortgage-backed nongovernment sponsored entity securities as follows:

Dollars in thousands	2014			2013
Total other-than-temporary  impairment losses	$	(1	)	$	(155	)
Portion of loss recognized in other comprehensive income	—			37
Net impairment losses recognized in earnings	$	(1	)	$	(118	)

Other than Temporary Impairment, Credit Losses Recognized in Earnings

Activity related to the credit component recognized on debt securities available for sale for which a portion of other-than-temporary impairment was recognized in other comprehensive income for the years ended December 31, 2014 and 2013 is as follows:

Dollars in thousands	2014			2013
Balance, January 1	$	(3,021	)	$	(2,903	)
Additions for the credit component on debt securities in which other-than-temporary impairment was not previously recognized	(1		)	(118		)
Securities sold during the period	3,022			—
Balance, December 31	$	—		$	(3,021	)

Schedule of Unrealized Loss on Investments

Provided below is a summary of securities available for sale which were in an unrealized loss position at December 31, 2014 and 2013, including debt securities for which a portion of other-than-temporary impairment has been recognized in other comprehensive income.

	2014
	Less than 12 months					12 months or more					Total
Dollars in thousands	Estimated Fair Value		Unrealized Loss			Estimated Fair Value		Unrealized Loss			Estimated Fair Value		Unrealized Loss
Temporarily impaired securities
Taxable debt securities
U.S. Government agencies and corporations	$	—	$	—		$	3,912	$	(52	)	$	3,912	$	(52	)
Residential mortgage-backed securities:
Government-sponsored agencies	36,825		(535		)	21,915		(238		)	58,740		(773		)
Nongovernment-sponsored entities	5,488		(44		)	2,163		(4		)	7,651		(48		)
State and political subdivisions:
General obligations	—		—			316		(33		)	316		(33		)
Water and sewer revenues	—		—			817		(7		)	817		(7		)
Other revenues	1,098		(2		)	—		—			1,098		(2		)
Corporate debt securities	—		—			—		—			—		—
Tax-exempt debt securities
State and political subdivisions:
General obligations	3,708		(8		)	438		(4		)	4,146		(12		)
Water and sewer revenues	721		(3		)	—		—			721		(3		)
Lease revenues	—		—			1,168		(10		)	1,168		(10		)
Lottery/casino revenues	—		—			1,126		(9		)	1,126		(9		)
Other revenues	1,247		(8		)	846		(10		)	2,093		(18		)
Total temporarily impaired securities	49,087		(600		)	32,701		(367		)	81,788		(967		)
Total other-than-temporarily
impaired securities	—		—			—		—			—		—
Total	$	49,087	$	(600	)	$	32,701	$	(367	)	$	81,788	$	(967	)

	2013
	Less than 12 months					12 months or more					Total
Dollars in thousands	Estimated Fair Value		Unrealized Loss			Estimated Fair Value		Unrealized Loss			Estimated Fair Value		Unrealized Loss
Temporarily impaired securities
Taxable debt securities
U.S. Government agencies and corporations	$	10,868	$	(118	)	$	—	$	—		$	10,868	$	(118	)
Residential mortgage-backed securities:
Government-sponsored agencies	55,035		(1,385		)	13,249		(188		)	68,284		(1,573		)
Nongovernment-sponsored entities	2,407		(12		)	565		(7		)	2,972		(19		)
State and political subdivisions:
General obligations	4,505		(264		)	2,337		(211		)	6,842		(475		)
Water and sewer revenues	1,309		(31		)	1,554		(83		)	2,863		(114		)
Other revenues	3,142		(142		)	—		—			3,142		(142		)
Corporate debt securities	2,968		(31		)	—		—			2,968		(31		)
Tax-exempt debt securities
State and political subdivisions:
General obligations	19,603		(997		)	2,102		(157		)	21,705		(1,154		)
Water and sewer revenues	5,643		(224		)	983		(82		)	6,626		(306		)
Lease revenues	6,112		(349		)	958		(42		)	7,070		(391		)
Lottery/casino revenues	2,720		(132		)	554		(37		)	3,274		(169		)
Other revenues	8,815		(191		)	—		—			8,815		(191		)
Total temporarily impaired securities	123,127		(3,876		)	22,302		(807		)	145,429		(4,683		)
Other-than-temporarily impaired securities
Taxable debt securities
Residential mortgage-backed securities:
Nongovernment-sponsored entities	—		—			1		(2		)	1		(2		)
Total other-than-temporarily
impaired securities	—		—			1		(2		)	1		(2		)
Total	$	123,127	$	(3,876	)	$	22,303	$	(809	)	$	145,430	$	(4,685	)